Stamford American School Hosts, Prof. Robert F. Engle III, the 2003 Nobel Laureate for Economic Sciences
24 FEBRUARY 2017 (SINGAPORE) – Stamford American International School was thrilled to welcome on Friday, February 24 Prof. Robert F. Engle III, the 2003 Nobel Laureate for Economic Sciences, to its campus as part of its 2017 Nobel Laureate Series to deliver a unique classroom session to the School’s International Baccalaureate Diploma Programme’s Economics students. Prof. Engle, an expert in time series analysis of financial markets, delivered a mini-lecture on the topic of The Prospects for Global Financial Stability.
Stamford American students had the opportunity after Prof. Engle’s lecture to ask the Nobel Laureate his thoughts on topics such as the trend towards national protectionalism and economic reforms and their impact on local and global economies and also unemployment. The month-old Trump Administration and the possible economic effects of its proposed policies were also of interest to Stamford American students.
On what the future holds and how to shape the world, Prof Engle encouraged and said “You are the future and we need to make sure the future looks substantially better than the past.”
Prof. Engle is best known for his research on the concept of autoregressive conditional heteroskedasticity (ARCH), a method for statistical modeling of time-varying volatility. His findings, known as the ARCH model, have become a tool that financial analysts use for asset pricing and evaluation of portfolio risk. The ARCH model is most relevant in markets in which the investment returns of an asset are assessed against its risks, and in which stock prices and returns could exhibit extreme volatility. It was Prof. Engle’s research on ARCH that he was awarded the Nobel Prize in 2003. The Michael Armellino Professor of Management and Financial Services at New York University’s Stern School of Business is a sought-after expert, who has been interviewed by major publications and television networks around the world.
Prof. Engle’s visit to the School marks the second in a series of three Nobel Laureate visits to Stamford American this academic year. In January, Stamford American welcomed His Excellency Jose Manuel Barroso, the 11th President of the European Commission and Former Prime Minister of Portugal, who received the 2012 Nobel Peace Prize on behalf of the European Union, for a full day visit to the School. Stamford American will receive at the end of March a visit from Dr. Peter Agre, the 2003 Nobel Laureate for Chemistry. The 2017 Nobel Laureate Series is a joint collaboration with the International Peace Foundation. Stamford American regularly invites expert mentors to the school to inspire and work with its students through its Global Mentor Program. Past mentors have included Retired U.S. General David Petraeus, actress Jane Seymour, football superstar Roberto Carlos and U.N. Environmental Program Goodwill Ambassador John Francis.